Did Mark Zuckerberg screwed his ex-best friend Eduardo Saverin? If you had watched “The Social Network” you’d probably be wondering the same thing.
The movie is based on the book “The Accidental Billionaires” by Ben Mezrich. Mark Zuckerberg, The Facebook founder has said he won’t watch the movie. The story is sourced from people involved in the founding year of Facebook, sources close to Facebook, and documents viewed by Business Insider.
This is the story of how Eduardo Saverin, Mark’s ex-best friend and co-founder of Facebook, got so angry at Mark — how, from Eduardo’s perspective, Mark screwed him out of a huge chunk of Facebook stock. It’s also the story of how Mark solved an early problem at Facebook, one that could potentially have prevented the company from becoming the global behemoth it is today.
In late 2003, Mark Zuckerberg, a Harvard sophomore asked another Harvard student named Eduardo Saverin, a junior, to deposit $15,000 in a bank account that would be accessible to both of them. The money, Mark promised, would go toward the servers needed to host a site that Mark wanted to develop. The site would be called TheFacebook.com. Eduarco agreed.
TheFacebook.com went live in February 2004. It was an instant success!
By April, the site was doing so well that Mark, Eduardo, and a third Harvard sophomore named Dustin Muskovitz formed The Facebook as a limited-liability company (LLC) under Florida law. In the summer of 2004, six months after thefacebook.com launched, Mark Zuckerberg and Dustin Moskovitz moved to Palo Alto while Eduardo Saverin went to New York for an internship at Lehman Brothers. Things started to go south between Mark and Eduardo.
Eduardo did something that really pissed Mark off: He ran unauthorized ads on Facebook.
Worse, the ads were for a startup Eduardo was running entirely on his own, a job boards site called Joboozle.
Mark flamed Eduardo for this in an email:
You developed Joboozle knowing that at some point Facebook would probably want to do something with jobs. This was pretty surprising to us, because you basically made something on the side that will end up competing with Facebook and that’s pretty bad by itself. But putting ads up on Facebook to advertise it, especially for free, is just mean.
Eduardo, the co-Founder and ex-friend of Mark Zuckerberg, recently did a guest editor spot on CNBC. The young billionaire gave his thoughts on the movie “The Social Network.”
As a co-founder of Facebook, I have wondered how Hollywood would depict its creation and development on the big screen. Would it be accurate? Would it showcase our failures, as well as our successes?
During Eduardo’s editorial on entrepreneurship, never once does he attack his former friend Mark Zuckerberg. He in fact praises him for all the things that he has accomplished with Facebook.
Eduardo’s initial $15,000 investment is now worth over $1 billion!
photos: Fame
One Response to “Did Facebook Founder, Mark Zuckerberg Screwed His Ex-Bestfriend Eduardo Saverin?”
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You forget that Eduardo Sued and settled for 2 billion dollars ….